2,200 Retail Ghost Towns Coming Soon – 2016 Store Closings

Updated August 12: Macy’s ups the store closing totals to 100, siting a consolidation would fulfill a better experience. As a result, Macy’s stock experienced the biggest single day gain for the company since 2008 with an increase of 17% in price share.

2016 Store Closings Continue to Mount

The deeper we get into the year, the more store closings get announced at a rate of more than 2,200 for just the big guys–that’s a lot of retail ghost towns in our neighborhoods. And these aren’t just from retailers that are struggling to get butts in stores. Case in point, Target, who is seeing somewhat of an in-store resurgence of late, will also close stores this year (close to a dozen reported by multiple sources).

While some store closings are inevitable and make complete sense as locations change demographically, this year is reflecting an even bigger shift in consumer behavior as the “smart” shopper grows rapidly. March shoppers will be marketed to more than ever during this year’s March Madness sales events (see What to Buy in March).

Staples is the most recent retailer to announce closings of 50 locations on the heels of Sports Authority bankruptcy and 140 location shut-downs. Kohl’s will shutter 18 stores, Sears (Kmart) 27, Macy’s comes in at 40 (plus staff cuts at its HQ) and kingpin Walmart is boarding up all Walmart Express stores and 16 supercenters.

Add that Best Buy recently announced they’ll be unplugging its online marketplace (and pre-owned/refurb outlet cowbboom.com has been redirected to Best Buy outlet) and pursue other product sourcing methods. For now, Amazon and jet.com win again.

2016 Store Closings

Here’s the short list thus far (see full list courtesy of RetailIndustry):